The Related Urban Development Group (RUDG) recently celebrated the completion of two developments—Gallery at River Parc and Brisas del Rio—in Florida’s Miami-Dade County.
Within the $600 million River Parc master plan, the newly built towers deliver 318 units, with rents ranging from $794 to $2,200.
“With River Parc, we are continuing Little Havana’s long history as a diverse and highly inclusive community,” said Albert Milo, president of RUDG. “This transformative development will support Little Havana as it continues its rapid growth, ensuring the city’s elderly population and growing workforce, as well as the many new arrivals, have access to attractive and convenient living options they can all feel proud to call home.”
River Parc is transforming a 22-acre property, formerly consisting of three public housing projects, into a mixed-income and multigenerational community. Phase one, the redevelopment of Martin Fine Villas, was completed in December 2018, while phase two (Gallery at River Parc) and phase three (Brisas del Rio), were completed in May and July 2021, respectively.
The 150-unit Gallery at River Parc is the first in RUDG’s new mixed-income “Gallery” brand, which is designed to address the local market demand for affordably priced, high-quality housing for South Florida’s workforce, said the company. Featuring an 80/20 split of workforce and affordable housing, the $37 million development offers studio, one- and two-bedroom apartment options, ranging from 473 square feet to 962 square feet. Amenities include a resort-style pool, a fitness center, and a resident-only co-working space. Financing partners include Truist.
The 13-story Brisas del Rio community features 168 units comprised of studio and one-bedroom apartments. The approximately $36.4 million development serves elderly households earning between 30% and 60% of the area median income. Ground level amenities include a community center, a computer room, and a fitness room. Financing includes a Freddie Mac forward commitment loan via Grandbridge.
RUDG added that professionally curated art is displayed throughout the newly developed and renovated buildings and the community at large, featuring works from local and emerging artists.
Once completed, the overall River Parc development will feature 2,600 units, including newly renovated or built units for the 840 public housing residents of Robert King High, Haley Sofge, and Martin Fine Villas. Located across from Marlins Park and within minutes of major employment corridors, the development is on land leased from Miami-Dade County and is tackled through a close collaboration between the county, local commissioners, and the Department of Public Housing and Community Development.
